1.9.1 Create Currency Definition

This topic describes the systematic instructions to define currency.

Specify User ID and Password, and login to Home screen.

1. On Home screen, click Core Maintenance. Under Core Maintenance, click Currency Definition.
2. Under Currency Definition, click Create Currency Definition.
   The Create Currency Definition screen displays.

   Figure 1-20 Create Currency Definition

   
   

   
   Description of "Figure 1-20 Create Currency Definition"

   
   
3. Specify the fields on Create Currency Definition screen.

   Note:

   The fields marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 1-20 Create Currency Definition – Field Description

   Field	Description
   Currency Code	Specify the currency code.
   Maintenance Country	Click Search and select the required maintenance country.
   Currency Name	Specify the name of the currency.
   Alternate Currency Code	Specify the code of the alternate currency.
   Currency Type	Specify the currency type.
   ISO Numerical Currency Code	Specify the International Standardization Organization numerical currency code.
   Currency Country	Click Search icon to view and select the required currency country.
   Currency Decimals	Specify the currency decimals.
   Currency Interest Method	Select the currency interest method from the drop-down list.
   Currency Spot Days	Specify the number of spot working days applicable for the currency.
   Foreign Exchange Netting Days	Specify the number of days for the foreign exchange netting.
   Settlement Message Days	Select the settlement message days.
   Position GL	Click Search icon to view and select the required position GL.
   Position Equivalent GL	Search and select the required position equivalent GL.
   Currency Tolerance Limit	Specify the currency tolerance limit.
   Index Base Currency	Click Search icon to view and select the required index base currency.
   Commodity Code	By default, this is disabled. If selected, enables a commodity code.
   Cut Off Days	Specify the cut off days for the payment transaction involving the currency.
   Cut Off Hour	Specify the hour of the day for the cut off.
   Cut Off Min	Specify the minute of the hour for the cut off.
   CLS Currency	By default, this is disabled. If selected, allow customers of the bank to settle their FX deals via the CLS (Continuous Linked Settlements) Bank, you can identify the currency to be a CLS Currency. FX deals in the CLS currency is only eligible to be routed through the CLS bank.
   Generate 103+	By default, this is disabled. If selected, generate outgoing MT 103 messages in the MT 103 + format.
   Index Flag	By default, this is disabled. If selected, derives index rate of the currency.
   Euro Conversion Required	By default, this is disabled. If selected, indicates the Euro conversion is required.
   New Cover Message Format Required	By default, this is disabled. If selected, indicates a new cover message format is required.
   Validate Tag-50F	By default, this is disabled. If selected, indicates validations must be performed for the 50F details captured for the ordering customer during contract input.
   Currency Round Rule	Select the currency round rule from the drop-down list.
   Currency Round Unit	Specify the currency round unit.
   Currency Format Mask	Select one of the currency format.
   Currency Euro Type	Select one of the currency Euro type. The available options are: EURO Currency In Currency Out Currency EUTO Closed
   Credit Auto Exchange Rate Limit	Specify the credit automatic exchange rate limit.
   Debit Auto Exchange Rate Limit	Specify the debit automatic exchange rate limit.
   Country Code	Click Search icon to view and select the required country code.
   Country Name	Specify the name of the country.
   Currency Code	Click Search icon to view and select the required currency code.

   Cut Off Time: It refers to the time by which all transactions involving a currency should be generated. For a currency, the user can indicate the cut-off hour and minute. This time should be expressed in the local time of the bank.

   The maintenance of a cut-off time for a currency has particular reference to outgoing funds transfers involving it.

   For example, the value date of a funds transfer transaction (incoming payment) involving USD, is 3rd June 2018. The number of cut-off days specified for the currency is 2. This means that the payment must be received on or before 1st June 2018. If the payment is received on 1st June, it must be received before the cut-off time specified for USD.

   If the USD cut-off time is 12:00 hrs, if the payment is received on 1st June 2018, it must be received before 12:00 hrs.

4. Click Save to save the details.
   The Currency definition is successfully created and can be viewed using the View Currency Definition screen.